Country-wide Bitcoin adoption could boost financial inclusion and trade, but challenges like volatility and regulatory hurdles might create mixed economic impacts.
Bitcoin offers an alternative for purchasing goods and services, though most countries don’t consider it legal tender, and the economic impact of it becoming a mainstream payment option is unclear.
Only two countries have adopted Bitcoin (BTC) as legal tender. El Salvador became the first country in the world to adopt Bitcoin in September 2021, and the Central African Republic followed suit in 2022.
El Salvador’s crypto treasury is $58 million in profit, according to the Nayib Bukele Portfolio Tracker website.
